Private equity firm to fund expansion of cable, wireless services

Birmingham-based Soaring Pine Capital has announced the acquisition of Chicago-based Technology Solutions Inc. through its Soaring Pine Capital Growth Fund I, funding the transaction through a combination of equity and mezzanine and senior debt.

In partnership with two veterans of the cable and wireless industry, Jerry McCoy and William Fenton, Soaring Pine will provide support to the management team and oversee U.S. growth and expansion through a holding company called Tikoo Solutions LLC.

Terms were not announced.

McCoy will be CEO of the new entity, and Fenton will serve as COO.

"The cable industry is undergoing dramatic changes with cable operators projected to spend billions in the next five years on infrastructure upgrades," McCoy said in a news release. "In addition, cable operators are relying more heavily on third-party field services, which provides a great opportunity for growth for companies like Technology Solutions."

Technology Solutions provides fulfillment and construction services for cable and wireless providers throughout the U.S.